The Latin America, Middle East and Africa Smart Wiring Devices Market should witness market growth of 14.0% CAGR during the forecast period (2022-2028).
Numerous nations are rapidly urbanizing and electrifying themselves and undergoing rapid development. Countries such as India, where urbanization is accelerating, are erecting residential complexes and hotels and focusing on tourism. These operations increase electrification, driving the market growth for smartwiring devices. As a result, electricity usage has reached a record level, increasing consumer and private expenditures. With the increase in building activities, the demand for wiring devices has also increased, boosting the market for smart wiring devices.
Safe and dependable operations are one of the advantages associated with smart wiring device technology. Customers view receptacle wiring devices as a more cost-effective application solution because they enable safe and dependable operations. Before plugs are removed, safety shutters on electrical outlets close automatically.
The region's emphasis on the tourism & real estate markets is the primary factor contributing to the rise of the smart home sector. One of the global industries with the quickest growth rates is the Middle Eastern real estate market. Foreign real estate developers have invested large sums of money in countries like Saudi Arabia, Oman, Qatar, Dubai, and others, which has fueled the expansion of the smart house concept in this region, a popular tourist destination. Dubai is becoming the destination that tourists prefer more than any other. Visitors to the region are attracted by several well-known structures, including Burj Al Arab and Burj Khalifa. This is expected to benefit the LAMEA region's market for smart wiring devices.
The Brazil market dominated the LAMEA Smart Wiring Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $273.9 Million by 2028. The Argentina market is experiencing a CAGR of 14.6% during (2022-2028). Additionally, The UAE market would showcase a CAGR of 13.7% during (2022-2028).
Based on Product Type, the market is segmented into Smart Switches, Smart Outlets, Smart Dimmers, Smart Thermostat and Others. Based on Application, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, ABB Ltd., Honeywell International, Inc., Control4 Corporation (Snap One Holdings Corp.), Crestron Electronics, Inc., Legrand Group, Johnson Controls International plc, Lutron Electronics Co., Inc, and Leviton Manufacturing Co., Inc.
Numerous nations are rapidly urbanizing and electrifying themselves and undergoing rapid development. Countries such as India, where urbanization is accelerating, are erecting residential complexes and hotels and focusing on tourism. These operations increase electrification, driving the market growth for smartwiring devices. As a result, electricity usage has reached a record level, increasing consumer and private expenditures. With the increase in building activities, the demand for wiring devices has also increased, boosting the market for smart wiring devices.
Safe and dependable operations are one of the advantages associated with smart wiring device technology. Customers view receptacle wiring devices as a more cost-effective application solution because they enable safe and dependable operations. Before plugs are removed, safety shutters on electrical outlets close automatically.
The region's emphasis on the tourism & real estate markets is the primary factor contributing to the rise of the smart home sector. One of the global industries with the quickest growth rates is the Middle Eastern real estate market. Foreign real estate developers have invested large sums of money in countries like Saudi Arabia, Oman, Qatar, Dubai, and others, which has fueled the expansion of the smart house concept in this region, a popular tourist destination. Dubai is becoming the destination that tourists prefer more than any other. Visitors to the region are attracted by several well-known structures, including Burj Al Arab and Burj Khalifa. This is expected to benefit the LAMEA region's market for smart wiring devices.
The Brazil market dominated the LAMEA Smart Wiring Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $273.9 Million by 2028. The Argentina market is experiencing a CAGR of 14.6% during (2022-2028). Additionally, The UAE market would showcase a CAGR of 13.7% during (2022-2028).
Based on Product Type, the market is segmented into Smart Switches, Smart Outlets, Smart Dimmers, Smart Thermostat and Others. Based on Application, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, ABB Ltd., Honeywell International, Inc., Control4 Corporation (Snap One Holdings Corp.), Crestron Electronics, Inc., Legrand Group, Johnson Controls International plc, Lutron Electronics Co., Inc, and Leviton Manufacturing Co., Inc.
Scope of the Study
By Product Type
- Smart Switches
- Smart Outlets
- Smart Dimmers
- Smart Thermostat
- Others
By Application
- Residential
- Commercial
- Industrial
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Schneider Electric SE
- Siemens AG
- ABB Ltd.
- Honeywell International, Inc.
- Control4 Corporation (Snap One Holdings Corp.)
- Crestron Electronics, Inc.
- Legrand Group
- Johnson Controls International plc
- Lutron Electronics Co., Inc,
- Leviton Manufacturing Co., Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Smart Wiring Devices Market by Product Type
Chapter 5. LAMEA Smart Wiring Devices Market by Application
Chapter 6. LAMEA Smart Wiring Devices Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Schneider Electric SE
- Siemens AG
- ABB Ltd.
- Honeywell International, Inc.
- Control4 Corporation (Snap One Holdings Corp.)
- Crestron Electronics, Inc.
- Legrand Group
- Johnson Controls International plc
- Lutron Electronics Co., Inc,
- Leviton Manufacturing Co., Inc.
Methodology
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